Spacious homes at low prices are drawing droves of young buyers to suburbs of the Cape Flats, which is also popular because of its central location relative to Cape Town and the N2 highway.
"Young buyers have become very sophisticated and for many buying a home is no longer an emotional decision," says Narriman Mohammad, owner of the RealNet Athlone franchise. "Traditionally, young buyers in this area put a premium on family ties and tended to buy in areas where they grew up, but now they look at convenience and price."
Suburbs close to the highway, such as Landsdowne and Wynberg, are being targeted by first-time buyers and young couples between the ages of 25 and 30, she says. Prices here start at a low R350 000 for spacious homes of up to about 200sqm and with three bedrooms. R500 000 will buy a double storey home on a larger stand.
Mohammad says many of these buyers are young professionals who find that prices at this level allow them to cover their bonds with ease, enjoy discretionary spending, and have easy access to jobs in the city.
Homes in the R600 000 to R800 000 range in suburbs such as Surrey Estates, Belgravia and Crawford are also popular, especially among professionals who are slightly older and more established in their careers.
Homes in the top end of this market, in suburbs such as Rondebosch East and Plumstead, are also viewed as good value by local residents who are upgrading, and buyers relocating to the Mother City from other parts of the country, she says.
Prices range between R1m and R2m and buyers have a wide choice of spacious homes, typically upmarket four-bedroom homes with several entertainment areas, a swimming pool, garaging, fully fitted kitchens and excellent security and alarm systems.
Article from: www.realnet.co.za
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